Alleged mismanagement of funds by leaders of the Magodo Residents Association (MRA) has created insecurity at a property located in Shangisha area of Kosofe Local Government Area of Lagos State.
Some residents of the estate have accused the MRA leadership led by Sheriff Daramola of embezzlement.
Lawson Adesokan, MRA’s internal auditor, issued an internal memo warning about the alleged misappropriation.
The auditor cited the approval and disbursement of funds for “police public relations,” a form of monetary compensation given to police officers assigned to secure property.
In a memo dated December 12, 2023, Mr. Adesokan accused Daramola of approving four additional police officers to guard the estate without the approval of the Board of Estate Management (BoT) and the Central Consultative Council (CCC). I objected to Mr.
The auditor also reprimanded the MRA chairman for approving an annual approval of NOK 4.8 million for additional security, saying it exceeded the approval limit.
“We understand that public relations payments to police commanders are not unusual, but when the amount exceeds N10 million, it should not be handled by just one person, in this case the security chief.” the auditor said.
“Additionally, when N4,800,000 is paid by one person annually, it is vulnerable to fraud, which is a concern to me.
“Also, there are questions about how the association sends money.
“A fictitious payment slip was prepared and the cash was disbursed to an employee named Moses Alawode who had no knowledge of the purpose for which it was used.
“That money is then transferred by him to the security secretary. For me this is a red flag,” he added.
